MARK 201 Lecture Notes - Lecture 8: The Macallan Distillery, Brand Loyalty, Joe Fresh
16 Apr 2018
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Sales and profits increase o: people are accepting the product. Sales reach their peak: profits lowly start to go down. Decline: people stop buying the product, profits go down. Competition will slowly start at this point and you want to make sure you have as much of the market share as possible before competition gets too strong. Maturity: maximize profit and defend market share, know who your buyers are, what they want to spend and maximize the profits. Make sure your product has a place in consumers mind. Decline: reduce expenditure and milk the brand. Your brand has value and make sure you capture value from this brand. Even if you move on to a new product, you can keep within the same brand. Tide laundry detergent moving to tide to go pen. Intro: cost plus whatever it costs to make the product + the profit you"ll make o.
